Analyst: Cord Cutting No Longer an ‘Urban Myth'

Pay TV customers aren't cutting the cord in droves yet, but the pace is starting to pick up, a top research in the cable sector said Tuesday as second quarter results continued to roll in.

Pay TV subscribers in the typically weak second quarter declined by 380,000 customers, about the same as last year, but it was paired with an improving housing formation trend, Moffett Research founder Craig Moffett pointed out in a research note.

While the original thinking has been that a housing recovery would pave the way for a boost in pay TV subscriber improvements "[i]t hasn't worked out that way," Moffett wrote.